In the paper, we simulate a heterogeneous-agent version of the wage-posting model as derived by Montgomery (1991) with homogeneous workers and differently-productive employers. Wage policy of particular employer is positively correlated with employer’s productivity level and the wage policy of...

Paper approximates long run implications of different tax schedules, i.e. using Chebyshev collocation. Model argues in favor of flat taxes and operates within an Arrow - Debreu environment. We approximate steady state Euler equations of an infinitely-lived-representative-agent exogenous growth...

In the paper we test a homogenous agent version of the Montgomery's (1991) non-cooperative wage posting model. The inclusion of intrinsic costs, related to the uncertainty when changing the alternative agents are already using, alters the outcome of the model in two respects: firstly, it...

The model of social network is used to analyze the impact of the power of labor unions in the labor relations. We find that labor union capable to affect a pecuniary compensation of shirking employees lessens the motivation of employees to work and improve to the unionization rate. As a result,...

We propose a network-based model of credit contagion and examine the e�ects of idiosyncratic and systemic shocks to individual banks and the banking system. The banking system is built as a network in which banks are connected to each other through the interbank market. The microstructure...

The classical NBER leading indicators model was built solely within a linear framework. With recent developments in nonlinear time-series analysis, several authors have begun to examine the forecasting properties of nonlinear models in the field of forecasting business cycles. The research...

To avoid the pitfalls of the widely used NBER model, in this paper we have adopted neural networks to forecast business cycles. We find that our model has overcome some of the main deficiencies of the classical leading indicators model: first, the model was able to correctly forecast all...

This paper studies cyclic patterns in the Slovene economy with spectral analysis. It examines if the transition in Slovenia was marked by a statistically significant movement of aggregate economic activity, which corresponds to the definition of business cycle proposed by Mitchell and Burns...

This article examines the demand for services of the Slovenian national postal operator for the direct mail and periodicals market and separately for the direct mail market. The main factors of the demand are found to be various price indicators with respect to individual market, two income...